It's when you get tied up with someone that gives you a line of assurances and promises that aren't usual and customary, or based on some preceived notion that the guy you are dealing with really can follow through is where you get in trouble...IMO.Due diligence cuts both ways.

I've used a hard money lender regularly and the notion of putting a hefty deposit just seems rather odd since I've never been asked to do so before.

And then there are those of use who have closed on REO property, where the agreement was signed within the first 2 weeks of listing, where the bank accepted an offer that was more than 15% below the listing price ...But it is true that initially the banks are stubbornly clinging to their notion of what the price should be, and that they become more flexible on price over time.

The notion of expenses and reserves gets covered there.

If your prospective partner can't manage to be patient with people, and treat all people with respect regardless of his or her perceived notion of their station in life (and often it is merely perception- it's not where you are, it's where you're going- and that includes the maid) then some people would give you the well-educated, polite interpretation that they must have a poor self-image themselves.

Hi Carlton,I agree with the notion that this would be a good time to buy for long term.My goal is to flip several properties until I have built up my cash reserves so I can diversify and also have a buy and hold portfolio.

I completely disagree with notion that if you support Obama, you hate your country.... and as for the President's #1 Job is to get re-elected, name one president who's job was different...

The notion that people who cant get approved right now are worth little is wrong.

I'm not sure where the notion came from that you cannot get your deposit back on a HUD house, but you can get it back and it happens all the time.

REALTORS can sell you on this notion, but it is far from the truth.